In January, New Delhi was home to the largest auto component show in its history attended by over 800 exhibitors and attended by over 122,0000 delegates from over 65 countries.
India has one of the most comprehensive value chain for automotive component manufacturers in engines, transmissions, chassis and other body parts. The automotive industry contributes over 6% of the GDP to the Indian economy and employs over 30 million people.
Manufacturing is booming in India as more and more foreign OEMs and tier 1s are preferring India over China to diversify its supply chains which were very concentrated in China. GM, Ford, Stellantis, Rover, VW, Audi, BMW, Mercedes, Toyota, Honda, Nissan, Hyundai, Kia they are all growing their sourcing from India. “However, it is not just the automotive manufacturing that is growing here, we are sourcing some very complex components and assemblies for Agriculture, Marine, Telecommunications, EVs, Energy, Heavy Truck for our customers in the USA and Europe” said Lalit Goel, CEO of Aerostar Manufacturing which supplies engineering components to its customers in the USA and Europe using its vast network of manufacturing plants in North America and India.
Advantages of Aerostar’s established network in India and offerings to its North American current customer base:
- Large Manufacturing Infrastructure
- Highly skilled & Technical Workforce
- English as the main business language
- Substantial Labor cost advantage (average 25% in savings)
- Ready availability of skilled workforce
- Open Capacity